Evaluation and advisory services

Deloitte's Resource Evaluation and Advisory team provides innovative solutions to the upstream industry including engineering evaluations, reservoir engineering and oil and gas valuations.

It’s our goal to provide petroleum companies with the greatest value and industry know-how available. Deloitte is constantly upgrading skills, expanding knowledge and teaming up with the best minds in industries all over the world; it’s what makes us the leading professional services firm in Canada. We offer unmatched capabilities to help our clients meet the challenges of doing business in the highly competitive energy and resources sector.

Our Calgary-based Resource Evaluation & Advisory practice has the experience and knowledge of the global energy industry to strategically grow our clients' organizations through mergers, divestiture and acquisition transactions, and through every phase of the economic cycles that affect business. This, combined with Deloitte's strength in financial advisory, creates a synergy of technical expertise that can quantify the value of resource assets and provide the strategic advice valued by all stakeholders.

Corporate reserve reports and audits

As a leader in both probabilistic and deterministic approaches to reserves, Deloitte's Resource Evaluation & Advisory team has extensive experience in evaluating corporate reserves. Our reports have been used for securities filings with the Toronto, New York, London and other international exchanges.

We have an intimate knowledge of the industry reserve definition standards, including the latest changes and details of the Canadian Oil and Gas Evaluation Handbook (COGEH), the Petroleum Resources Management System (PRMS) and the Securities and Exchange Commission (SEC). The entire Deloitte technical team is well versed in evaluating and/or auditing reserves to SEC (US), NI 51-101 (Canada) and AIME (UK) financial reporting standards. We are also aware of the latest definitions, whether they are devised by the Society of Petroleum Engineers (SPE), World Petroleum Congress (WPC), American Association of Petroleum Geologists (AAPG), or the Canadian Chapter of SPE (formerly known as the Petroleum Society of CIM). We know the requirements well because we're often involved in developing them.

Our valuation services include:

  • Corporate and property economic valuations
  • Year end corporate evaluations and reports for regulatory agencies and financial institutions
  • N1 51-101 filings
  • Government regulatory application filings

Unconventional oil and gas development studies

We've accumulated a wealth of experience with unconventional reservoirs such as coalbed methane, tight gas, shale gas, heavy oil and bitumen.

As an independent evaluator, Deloitte's Resource Evaluation & Advisory team has worked with the full spectrum of unconventional plays. With specialized internal knowledge teams, we are able to gather and analyze data from worldwide sources. We also meet regularly with service companies, and attend conferences, workshops and other forums to stay on top of changing technologies We're continually updating our internal models and perspectives to maintain a realistic outlook on emerging plays.

Our unconventional oil and gas services include:

  • Heavy oil and oil sands evaluations
  • Reserves and resources assessments
  • Unconventional reserve evaluations and resource studies including CBM, shale gas, tight gas, heavy oil and bitumen
  • Probabilistic analysis of reserves and resources
  • Resource assessments and resource potential studies

Acquisition and divestiture evaluations

An independent engineering report is the very foundation of the acquisition and divestiture process because it defines what is being purchased. Our reports are seen regularly in data rooms across the industry, demonstrating that we take our role in the A&D process very seriously.

Created under a framework of legal regulation and industry standards, at the very core of an Deloitte's Resource Evaluation & Advisory team's engineering report is a technical document that is based squarely on fact, a detailed evaluation of the key properties and production, along with an extensive analysis of key factors influencing current and future potential. Timely analysis by Deloitte provides both the seller and buyer with an up-to-date report that reflects current circumstances, and considers details like price forecasts that impact the value of a transaction.

Our acquisition and divestiture services include:

  • Opinion, review, assessment, audit of vendor data room engineering reports (as required by the client)
  • Detailed evaluation of key properties/production
  • Economic analysis; cash flow forecasts
  • Evaluation of exploratory and/or undeveloped lands
  • Assessment and/or provision of exploitationenhancement plans
  • Transaction advice; bidding strategies
  • Exchange filing assistance, post-acquisition

Petroleum advisory services

Deloitte's Resource Evaluation & Advisory team's petroleum advisory services draws upon extensive technical and managerial experience in exploration and production to provide perspective on issues at hand and insight into the potential impact of proposed decisions.

Our activities range from advising senior management on specific opportunities and solutions, to price forecasting, expert witness services and counsel for international companies looking to build their business in Canada.

Deloitte’s complete suite of technical and executive services provides strategic insight into oil and gas valuation, as well as business and asset management. Whether it’s advice on financing or a comprehensive analysis of opportunities in Canadian energy, Deloitte expertise enhances investment potential and improves risk management.

Our services include:

  • Evaluations and business advice for merger transactions, and corporate or property acquisition and divestiture
  • Fair market value appraisals and valuations
  • Independent evaluations and management advice for IPOs, equity financing, flow through share offerings
  • Corporate, asset and business evaluations as a potential entry point into the Canadian oil industry
  • Strategic planning including price and economic forecasting of product prices, exchange rates, and transportation costs
  • Industry monitoring including production trends, finding and development cost analysis, emerging areas and plays
  • Technical support for regulatory filings
  • Due diligence for Financial Auditors and Board of Directors’ Reserve Committees
  • Evaluations process and planning for startups
  • Expert witness services
  • Price forecasting